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Tech
Virtual reality company XReality Group (ASX:XRG) has been awarded a six-month national trial of its law enforcement systems – by an undisclosed National Police Service.
The company’s Operator’s virtual reality system for law enforcement allows police and law enforcement agencies to train their operational tactics and procedures using a highly portable, easy to use and incredibly realistic virtual reality system that does not require internet, is highly secure and easily configurable.
Plus, it’s a low cost and lower risk alternative to traditional training approaches, reduces demand on staffing resources and at the same time increases trainee and officer throughput, higher levels of training repeatability, facilitates simpler and easier access to training at any time, in any location.
“The decision to award this national trial to XRG further confirms the quality and effectiveness of the technology,” CEO Wayne Jones said.
“We look forward to seeing the positive impact our technology can make on improving the safety and preparedness of those men and women on the frontline.”
The company says the trial is an informative pre-cursor activity to potential future multi-year programs dedicated to initiatives and investments into frontline safety for police, and that it’s currently experiencing “a high level of demand from around the world from both military and law enforcement agencies.”
The utility tech company has signed three new contracts with LianQing in China totalling around $1.8 million – which it says more than double its China FY23 revenue achieved so far.
The new contracts will see LianQing acquire water quality sensor hardware and related accessories.
X2M says its another step towards its China market growth strategy, where the plan is to establish a business base through the sale of hardware and then follow up these sales with the connection of devices to the X2M IoT platform, which over time is expected to impact “favourably on customer growth and margin metrics.”
“They bring our FY23-to-date China revenue to more than $3.4 million, which is already more than what we delivered in FY22,” CEO Mohan Jesudason said.
The HR platform received an improved binding proposal from The Access Group (TAG) to acquire 100% of the company for up to $0.22 per share today.
This comes after an offer at $0.20 per share was received last week, which the board has unanimously determined is a superior proposal to the Humanforce scheme of arrangement and on-market takeover bid announced the week before that of $0.165 per share.
But Humanforce also announced today it will up its offer to $0.195 which it believes is superior to the TAG proposal, plus Humanforce holds 19.9% of intelliHR shares and has confirmed that it will vote against a TAG scheme of arrangement at a consideration of $0.20 per share.
No word yet on whether the updated TAG proposal to $0.22 makes a difference here, with IHR recommending shareholders take no action with plans to update the market later today.
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